On average, listings lease in the $20's per square foot per year. The Uptown submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $19 per sqft per year. That's a 39% decline in rent.
Compared to the rest of the DFW Metroplex market, the Uptown region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 36 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 11% of the listings in the Uptown are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,340 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 9 floors. Most buildings in this market were built in 1985 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Uptown occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.